Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The City of
Niles has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award
activity of the City of Niles, Michigan, under programs of the federal government for the year ended September 30,
2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of
Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations
of the City of Niles, Michigan, it is not intended to, and does not, present the financial position or changes in net
position of the City of Niles, Michigan.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The City of
Niles has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available. The City of
Niles has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: RECONCILIATION WITH AUDITED FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The City of
Niles has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The following reconciles the federal revenues reported in the September 30, 2023 basic financial statements to
the expenditures of the City administered federal programs reported on the Schedule of Expenditures of Federal
Awards:
Federal/ (Less) Federal
State State/Local Award
Revenue Revenue Expenditures
PRIMARY GOVERNMENT
GENERAL FUND
Bulletproof Vest Partnership Program $ 3,520 $ - $ 3,520
Coronavirus State and Local Fiscal Recovery Fund 1,469,098 - 1,469,098
Chapin House Roof Rehabilitation 74,000 - 74,000
Other Programs 1,875,836 (1,875,836) -
TOTAL GENERAL FUND 3,422,454 (1,875,836) 1,546,618
NONMAJOR GOVERNMENTAL FUNDS
HUD Entitlement Program $ 244,825 $ - $ 244,825
Dial-A-Ride Transportation 912,116 (305,377) 606,739
Other Programs 1,625,905 (1,625,905) -
TOTAL NONMAJOR GOVERNMENTAL FUNDS 2,782,846 (1,931,282) 851,564
TOTAL GOVERNMENTAL FUNDS $ 6,205,300 $ (3,807,118) $ 2,398,182
ENTERPRISE FUNDS
Airport (Nonmajor) Fund $ 202,450 $ (42,315) $ 160,135